Google will invest $1 billion over the next five years in nonprofit organizations helping people adjust to the changing nature of work, the largest philanthropic pledge to date from the Internet giant.

The nature of work is fundamentally changing. And that is shifting the link between education, training and opportunity. One-third of jobs in 2020 will require skills that aren't common today. It's a big problem.

The announcement of the national digital skills initiative, made by Google CEO Sundar Pichai in Pittsburgh, Pa. Thursday, is a tacit acknowledgment from one of the world's most valuable companies that it bears some responsibility for rapid advances in technology that are radically reshaping industries and eliminating jobs in the U.S. and around the world.

In all, Google employees will donate 1 million volunteer hours to assist organizations like Goodwill trying to close the gap between the education and skills of the American workforce and the new demands of the 21st-century workplace, Pichai said.

Read the full article about preparing for the new economy by Jessica Guynn at Phys.